Honeywell Automation India reports over 54% rise in Q4 profit

Honeywell Automation India

17/05/2023 14:39

BENGALURU, May 17 (Reuters) - Engineering firm Honeywell Automation India Ltd  HONE.NS 
reported a 54.2% rise in fourth-quarter profit on Wednesday on robust demand, marking its fourth
consecutive quarterly profit growth. 
    Net profit for the Indian arm of U.S. conglomerate Honeywell International Inc  HON.O  rose to
1.12 billion rupees in the three months ended March 31 from 726.7 million rupees a year earlier. 
    For further earnings highlights, click  urn:newsml:reuters.com:*:nFWN37E1S4
    
    WHY IT MATTERS
        
    Engineering and capital goods firms such as Siemens Ltd  SIEM.NS  and Larsen & Toubro Ltd
 LART.NS  have also benefitted from strong order books amid a boost in Indian infrastructure
spending. 
    Rise in input cost and purchases of stock-in-trade, among other items, however, have pushed
Honeywell's total expenses up nearly 22%. 
    The company has the third most expensive stock in India, having closed at 37,453.75 rupees apiece
ahead of its results. 
    
    PEER COMPARISON
    
                                  Valuation    Estimates (next  Analysts' sentiment             
                                  (next 12       12 months)                                     
                                   months)                                                      
                       RIC      PE     EV/EBI  Revenue  Profit  Mean    # of      Stock to      Div
                                       TDA     growth   growth  rating  analysts  price         yield
                                                                *                 target**      (%)
 Honeywell Automation                                                                         
 Larsen & Toubro Ltd                                                                          
 Siemens Ltd                                                                                  
 ABB India Ltd                                                                                 
    * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong
Sell
    ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the
stock is trading above the PT
    
    JAN-MARCH STOCK PERFORMANCE
    
    

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Honeywell Automation shares vs peers    https://tmsnrt.rs/3Wb7rGk
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 (Reporting by Varun Vyas in Bengaluru; Editing by Sohini Goswami)
 ((varunvyas.hebbalalu@thomsonreuters.com;))